Cross

(redirected from crossing fingers)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia.

Cross

Securities transaction in which the same broker acts as agent for both sides of the trade; a legal practice only if the broker first offers the securities publicly at a price higher than the bid.

Cross

To match and execute two orders made to the same broker. Suppose a broker receives one order to buy 1,000 shares at $45 and another to sell 1,000 shares at $45. If he matches these two together, he is said to cross the orders. Crossing is subject to some regulation to prevent conflict of interest on the part of the broker.

cross

To match, by a single broker or dealer, a buy order and a sell order. For example, a floor broker may have an order to buy 500 shares of IBM at $120 and another order to sell 500 shares of IBM at the same price. Subject to certain rules, the floor broker may cross the order by matching the sell and the buy orders. Crossing of stock is common in large blocks.
References in periodicals archive ?
The Nets need to turn this thing around in tonight's Game 2 or everyone will be crossing fingers, hoping a sweep ends the bloodletting.
TriStar was crossing fingers that "My Best Friend's Wedding" would stay close to the 35% second-weekend drop that "Phenomenon" had last summer If it does, "Wedding" could become one of the most profitable summer films.
The couple have rekindled their romance after a three-month split and friends are crossing fingers, knees and toes it's for good this time.
And with severe weather warnings having been issued for parts of Wales for today and tomorrow, athletes will be crossing fingers they can still travel to Cardiff Met University for the national championships.